Enbridge names Michele Harradence, a veteran in the industry, as the successor to retiring CEO Ebel

Enbridge announced on Tuesday that its CEO Greg Ebel will retire by the end of 2026. He will be replaced by industry veteran Michele Harradence.

Enbridge, during Ebel's tenure at the helm, acquired three utilities from Dominion Energy. This helped make Enbridge one of North America’s largest integrated gas utility platforms.

Enbridge has now secured a growth backlog of C$41 billion across its liquids pipelines business, gas transmission, storage and distribution, natural gas utilities and renewable energy businesses.

Harradence has been leading the gas utilities of Enbridge since '2022, after spending 16 years at Shell. She also oversaw the integration of Dominion utility acquisitions. She is currently the head of Enbridge’s gas distribution business.

These businesses provide services to 7.2 million homes and businesses in Canada and the United States.

Before taking on the utility business, she was Enbridge's senior vice president and chief operational officer in Houston.

Ebel became the president and CEO of Enbridge in January 2023, after its merger with Spectra Energy.

Enbridge's shares had risen?about 30 percent since Ebel became CEO. This compares to an 86.3% increase in Canada's S&P/TSX Composite Index.

Ebel will continue to serve on Enbridge's Board until December 31, and as a advisor to the board, and Harradence up until May 2027.

(source: Reuters)